We operate on principles that are old, simple and few.


Our investing blueprint traces its roots in both the Hermoy farmland country—where Standard was originally incepted—and our founding family’s legacy.


From the first—a place where folks keep their heads stocked with prairie-town views and values—it inherited the nimble, no-nonsense spirits that have shaped its approach to ownership. From the second, a resolute set of values centered around culture and character.

Our primary drive is to acquire shares in growing companies run by proven owners-operators when they wrestle with temporary setbacks. We are sector-agnostic and opportunity-driven, but adamant on value. This, above all else, defines the way we operate.

Committing capital against a backdrop of industry distress or market dislocation is where we are the most comfortable at. Buying when others are despondently selling, it is said, requires the greatest fortitude but pays the greatest rewards. Such inclination requires a contrarian mindset and ability to soldier through that, fortunately, we can provide in spades.

In all cases, our portfolio management comes down to these essential characteristics:

1. A careful selection of a few investments chosen in relation to the discrepancy between their price and intrinsic value; to the quality and integrity of their management teams; and to the alternative investments available at the time.

2. A steadfast holding of these large commitments through thick and thin until either they have fulfilled their promise or it is evident that they were purchased on a mistake.

3. A balanced investment position—that is, a variety of risks in spite of individual holdings being large, coupled with sizeable reserves of cash at hand to absorb financial shocks and maintain optimal latitude of action.

We believe in grit and gumption, but although young in spirits, we’re rather conservative and old-fashioned in business. To qualify, opportunities must be accessible at compelling valuations—ones that leave sizeable margins of safety and allow ample room for our frequent mistakes of judgement.

Our philosophy, however, is to always keep an open mind. We have no strategic agenda or long-term plan other than doing sensible things, pouncing with vigor on those rare opportunities that fall into our modest circle of competence whenever they surface, which by essence isn’t often.

Our main business is not to see what lies dimly at a distance,
but to do what lies clearly at hand.

Carlyle’s wisdom echoes with the tested investment principles we defer to: looking for permanent value; detaching ourselves from volatility concerns, for the market is here to serve us, not to instruct us; thinking independently and having the courage to side against the consensus when conviction and reason command it; demanding a tangible margin of safety for every risk we underwrite; avoiding anything that doesn’t match our standard of virtue and integrity; and, of course, always keeping things simple and pleasant as we go.